TC Energy (NYSE:TRP) Now Covered by StockNews.com

StockNews.com began coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research note released on Tuesday morning. The brokerage issued a hold rating on the pipeline company’s stock.

Several other equities analysts also recently commented on TRP. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. BMO Capital Markets increased their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group increased their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Finally, UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Trading Down 0.7 %

Shares of NYSE TRP opened at $48.74 on Tuesday. The business has a 50 day simple moving average of $47.32 and a 200 day simple moving average of $43.41. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37. The stock has a market cap of $50.59 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 4.19 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. On average, research analysts predict that TC Energy will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.75%. TC Energy’s dividend payout ratio (DPR) is presently 78.95%.

Institutional Trading of TC Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortitude Family Office LLC acquired a new stake in TC Energy during the third quarter worth about $28,000. Blue Trust Inc. lifted its position in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the period. EdgeRock Capital LLC acquired a new stake in shares of TC Energy during the 2nd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of TC Energy in the third quarter valued at $39,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.